Futures Point to a Lower Open Folowing Euro Downgrades and Lower Than Expected Retail Sales...

BMO – ES -3.75 and NQ -4.75 futures are lower 10 minutes before the open in pre-market trading and point to a lower open…following Moody’s downgrade of Italy, Portugal, Spain, Slovakia, Slovenia and Malta…Retail sales for January rose 0.4 percent, less than expected…volume is moderate for pre-market with more stocks quoting down than up…

Financial stocks, XLF is down 7 cents on 91,900 shares in pre-market at this time…FAS is down $1.28 …

TLT is up 33 cents and the Euro is down 10 pips overnight trading …

NDX leaders AAPL, BIDU, GOOG and NFLX are higher…AMZN, PCLN and QCOM are lower.

Dave’s Insight for Tuesday:  flat Euro…higher bonds… Financials down…setting up a lower open…Follow YOUR rules for entry, exits and stops...TRADE THE TREND…With extended profits be sure to adjust your stops…

Following downgrades of Euro countries…

Watch for and pause then bounce continuation and follow your rules for exit…the intermediate term trend is still up…

Chart Signals will be watching the Euro, XLF and the VIX...the VIX continues to indicate stable trend…

SPX

Resistance: 1,347, 1,353, 1,361, 1,370

Support: 1,331, 1,315, 1,300

Quoting Down – LNKD, CMG, FAS, ESI, ICE, HUM, GS, TPX, VMW, INFA, CSTR, WLT, STI, IBM, CLF, V, CDE, COH, NKE, TSL, FCX, DOW, RCL, SLB, SWI, ENTR, GRPN, SKWS, RVBD, LDK, X

Quoting Up – CF, UCO, A, SINA, WDC, TLT, FAZ, SWN, HLF, SOHU, CROX